Defunct Bank's Holding Co. Files For Bankruptcy

Law360, New York (June 21, 2012, 4:14 PM EDT) -- First Regional Bancorp, the holding company for defunct Los Angeles-based First Regional Bank, on Tuesday petitioned for Chapter 11 bankruptcy protection, listing just $1.3 million in assets, a far cry from the bank’s $2.18 billion in holdings seized by federal regulators in 2010.

The company claimed $100 million to $500 million in liabilities and said it had 11.8 million shares in common stock held by roughly 1,200 shareholders.